Market Overview - The three major A-share indices showed mixed performance in the morning session, with the Shanghai Composite Index rising by 0.36% to surpass 3500 points, while the Shenzhen Component Index increased by 0.02%, and the ChiNext Index fell by 0.3% [1] - The total market turnover for the half-day was 934.4 billion yuan, a decrease of 34.7 billion yuan compared to the previous day, with over 3100 stocks declining [1] Bond Market Insights - The 30-year government bond ETF, Boshi (511130), opened lower and fell by 24 basis points during the session, with a trading volume of nearly 2.5 billion yuan and a turnover rate exceeding 30%. The ETF has seen a net inflow of 274 million yuan over the past five days [1][2] - Huatai Futures indicated that the central bank's continuous net injection has maintained a loose market liquidity, leading to a widening yield spread, reflecting a certain expectation for short-term liquidity easing [2] - The 30-year government bond ETF, established in March 2024, is one of only two long-duration bond ETFs in the market, tracking the "Shanghai Stock Exchange 30-Year Government Bond Index" [2] Economic Indicators - The National Bureau of Statistics reported June inflation data, with the CPI rising by 0.1% year-on-year and the PPI declining by 3.6%, indicating weak overall performance that is unfavorable for endogenous growth in domestic demand [1] - Baocheng Futures noted that the current weak inflation performance and insufficient endogenous growth momentum in domestic demand, combined with external demand being susceptible to tariff impacts, suggest a need for a relatively loose monetary environment in the second half of the year to support demand and stabilize expectations [1]